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Equity (Tables)
 12 Months Ended
Jun. 30, 2020
Disclosure of reserves within equity [abstract]  
Schedule of allotted and fully paid share capital
(a) Allotted and fully paid share capital – ordinary shares of 28101⁄108 pence each
 
 
Number of shares
million

 
Nominal value
£ million

At 30 June 2020
 
2,562

 
742

At 30 June 2019
 
2,601

 
753

At 30 June 2018
 
2,695

 
780
Schedule of movement in hedging and exchange reserve
(b) Hedging and exchange reserve
 
 
Hedging
reserve
£ million

 
Exchange
reserve
£ million

 
Total
£ million

At 30 June 2017
 
(21
)
 
(432
)
 
(453
)
Other comprehensive loss
 
(44
)
 
(530
)
 
(574
)
Adoption of IFRS 9 by associate
 
(3
)
 
—

 
(3
)
At 30 June 2018
 
(68
)
 
(962
)
 
(1,030
)
Other comprehensive income
 
31

 
181

 
212

At 30 June 2019
 
(37
)
 
(781
)
 
(818
)
Other comprehensive income/(loss)
 
125

 
(241
)
 
(116
)
Transfers from other retained earnings
 
5

 
—

 
5

At 30 June 2020
 
93

 
(1,022
)
 
(929
)
Schedule of movements in own shares
Movements in own shares
 
 
Number
of shares
million

 
Purchase
consideration
£ million

At 30 June 2017
 
241

 
2,176

Share trust arrangements
 
(1
)
 
(9
)
Shares purchased - employee share plans
 
2

 
66

Shares used to satisfy options
 
(4
)
 
(89
)
Shares purchased - share buyback programme
 
59

 
1,507

Shares cancelled
 
(59
)
 
(1,507
)
At 30 June 2018
 
238

 
2,144

Share trust arrangements
 
(1
)
 
(14
)
Shares used to satisfy options
 
(5
)
 
(104
)
Shares purchased - share buyback programme
 
95

 
2,775

Shares cancelled
 
(95
)
 
(2,775
)
At 30 June 2019
 
232

 
2,026

Share trust arrangements
 
(1
)
 
(7
)
Shares used to satisfy options
 
(4
)
 
(83
)
Shares purchased - share buyback programme
 
39

 
1,282

Shares cancelled
 
(39
)
 
(1,282
)
At 30 June 2020
 
227

 
1,936
Schedule of the monthly breakdown of shares purchased and the average price paid per share
The monthly breakdown of all shares purchased and the average price paid per share (excluding expenses) for the year ended 30 June 2020 were as follows:
Period
 
Number of shares
purchased under
share buyback
programme

 
Total number of
shares purchased

 
Average price paid pence

 
Authorised purchases unutilised at month end

July 2019
 
270,502

 
270,502

 
3373

 
162,912,211

August 2019
 
5,945,767

 
5,945,767

 
3422

 
156,966,444

1-19 September 2019
 
5,662,939

 
5,662,939

 
3514

 
151,303,505

20-30 September 2019
 
2,549,669

 
2,549,669

 
3249

 
234,627,954

October 2019
 
9,959,084

 
9,959,084

 
3220

 
224,668,870

November 2019
 
3,837,551

 
3,837,551

 
3099

 
220,831,319

December 2019
 
6,597,406

 
6,597,406

 
3100

 
214,233,913

January 2020
 
4,176,677

 
4,176,677

 
3165

 
210,057,236

Total
 
38,999,595

 
38,999,595

 
3243

 
210,057,236
Schedule of dividends
(d) Dividends
 
 
2020
£ million

 
2019
£ million

 
2018
£ million

Amounts recognised as distributions to equity shareholders in the year
 
 
 
 
 
 
Final dividend for the year ended 30 June 2019
 
 
 
 
 
 
42.47 pence per share (2018 – 40.4 pence; 2017 – 38.5 pence)
 
1,006

 
993

 
968

Interim dividend for the year ended 30 June 2020
 
 
 
 
 
 
27.41 pence per share (2019 – 26.1 pence; 2018 – 24.9 pence)
 
640

 
630

 
613

 
 
1,646

 
1,623

 
1,581
Schedule of amounts attributable to non controlling interests
Summarised financial information for USL and other subsidiaries, after fair value adjustments on acquisition, and the amounts attributable to non-controlling interests are as follows:
 
 
2020
 
 
2019

 
2018

 
 
USL
£ million

 
Others
£ million

 
Total
£ million

 
Total
£ million

 
Total
£ million

Income statement
 
 
 
 
 
 
 
 
 
 
Sales
 
2,790

 
1,898

 
4,688

 
5,346

 
4,926

Net sales
 
846

 
1,468

 
2,314

 
2,656

 
2,431

(Loss)/profit for the year
 
(53
)
 
138

 
85

 
383

 
244

Other comprehensive (loss)/income(i)
 
(112
)
 
16

 
(96
)
 
137

 
(163
)
Total comprehensive (loss)/income
 
(165
)
 
154

 
(11
)
 
520

 
81

Attributable to non-controlling interests
 
(71
)
 
79

 
8

 
234

 
53

Balance sheet
 
 
 
 
 
 
 
 
 
 
Non-current assets(ii)
 
2,041

 
3,129

 
5,170

 
5,313

 
4,973

Current assets
 
541

 
739

 
1,280

 
1,469

 
1,384

Non-current liabilities
 
(349
)
 
(1,110
)
 
(1,459
)
 
(1,526
)
 
(1,425
)
Current liabilities
 
(466
)
 
(722
)
 
(1,188
)
 
(1,204
)
 
(1,183
)
Net assets
 
1,767

 
2,036

 
3,803

 
4,052

 
3,749

Attributable to non-controlling interests
 
756

 
912

 
1,668

 
1,795

 
1,765

Cash flow
 
 
 
 
 
 
 
 
 
 
Net cash inflow from operating activities
 
29

 
204

 
233

 
542

 
334

Net cash outflow from investing activities
 
(16
)
 
(136
)
 
(152
)
 
(157
)
 
(136
)
Net cash outflow from financing activities
 
(34
)
 
(175
)
 
(209
)
 
(266
)
 
(164
)
Net (decrease)/increase in cash and cash equivalents
 
(21
)
 
(107
)
 
(128
)
 
119

 
34

Exchange differences
 
(1
)
 
(2
)
 
(3
)
 
3

 
(2
)
Dividends payable to non-controlling interests
 
—

 
(117
)
 
(117
)
 
(114
)
 
(101
)
(i)
Other comprehensive income is principally in respect of exchange on translating the subsidiaries to sterling.
(ii)
Non-current assets include the global distribution rights to distribute Ketel One vodka products throughout the world. The carrying value of the distribution rights at 30 June 2020 was £1,464 million (2019 – £1,418 million; 2018 – £1,363 million).

(1)
On 29 July 2019 East African Breweries Limited completed a purchase of 4% of the share capital of Serengeti Breweries Limited. This increased Diageo’s effective economic interest from 39.2% to 40.2%.
(2)
On 20 August 2019 and 28 February 2020 Diageo completed the purchase of 0.46% and 0.7% of the share capital of United Spirits Limited (USL) respectively. This increased Diageo’s controlling shareholding position from 54.78% to 55.94%, excluding 2.38% owned by the USL Share Trust.
Schedule of employee share compensation
The annual fair value charge in respect of the equity settled plans for the three years ended 30 June 2020 is as follows:
 
 
2020
£ million

 
2019
£ million

 
2018
£ million

Executive share award plans
 
(3
)
 
41

 
33

Executive share option plans
 
2

 
4

 
3

Savings plans
 
3

 
4

 
3

 
 
2

 
49

 
39
Schedule of fair value of each share award used the Monte Carlo pricing model and weighted average assumptions
For the three years ended 30 June 2020, the calculation of the fair value of each share award used the Monte Carlo pricing model and the following assumptions:
 
 
2020
 
2019
 
2018
Risk free interest rate
 
0.4%
 
0.8%
 
0.3%
Expected life of the awards
 
37 months
 
37 months
 
37 months
Dividend yield
 
1.9%
 
2.4%
 
2.6%
Weighted average share price
 
3501 p
 
2736 p
 
2573 p
Weighted average fair value of awards granted in the year
 
899 p
 
1941 p
 
1761 p
Number of awards granted in the year
 
1.7 million
 
2.5 million
 
2.3 million
Fair value of all awards granted in the year
 
£16 million
 
£48 million
 
£41 million
Schedule of transactions on executive share award plans
Transactions on the executive share award plans for the three years ended 30 June 2020 were as follows:
 
 
2020
Number of awards
million

 
2019
Number of awards
million

 
2018
Number of awards
million

Balance outstanding at 1 July
 
7.0

 
7.8

 
7.9

Granted
 
1.8

 
2.5

 
2.3

Awarded
 
(2.5
)
 
(2.1
)
 
(0.7
)
Forfeited
 
(0.7
)

(1.2
)

(1.7
)
Balance outstanding at 30 June
 
5.6

 
7.0

 
7.8